Ports Design, a high-end mainland fashion retailer, reported a 28.4 per cent increase in net profit to 183.4 million yuan (HK$209.5 million) for the first half on strong sales, despite the slowdown in the global economy.
Turnover jumped 19.9 per cent to 682.6 million yuan, from 577.6 million yuan a year earlier.
Despite the strong showing, however, year-on-year growth in turnover slowed from 38 per cent, while profit slowed from 46.1 per cent in the first half of last year.
The company cited a drop in demand for luxury products on the mainland following natural disasters and turmoil in the financial markets.
The retail segment, in which the company operates Ports and the BMW lifestyle stores in Asia, remained the key growth driver for turnover.
Retail revenue grew 29 per cent to 607.6 million yuan on higher prices and volume growth.
Chief executive Alfred Chan said overall profit growth in the second half would likely remain at first-half levels despite the influence of the Olympics.
